Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Columbus McKinnon Corporation $CMCO

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 96,954 shares of the industrial products company’s stock, valued at approximately $1,480,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.34% of Columbus McKinnon as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMCO. CWM LLC increased its holdings in shares of Columbus McKinnon by 79.2% during the first quarter. CWM LLC now owns 3,422 shares of the industrial products company’s stock worth $58,000 after buying an additional 1,512 shares in the last quarter. Signaturefd LLC increased its holdings in Columbus McKinnon by 743.4% during the 1st quarter. Signaturefd LLC now owns 2,429 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 2,141 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Columbus McKinnon in the 1st quarter valued at $813,000. Legato Capital Management LLC boosted its stake in Columbus McKinnon by 38.7% in the first quarter. Legato Capital Management LLC now owns 75,322 shares of the industrial products company’s stock worth $1,275,000 after purchasing an additional 21,028 shares in the last quarter. Finally, Heartland Advisors Inc. boosted its stake in Columbus McKinnon by 477.4% in the first quarter. Heartland Advisors Inc. now owns 577,375 shares of the industrial products company’s stock worth $9,775,000 after purchasing an additional 477,375 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Columbus McKinnon in a report on Wednesday, October 8th. Wall Street Zen raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $35.00.

Columbus McKinnon Trading Down 2.9%

NASDAQ CMCO opened at $14.95 on Monday. Columbus McKinnon Corporation has a 12 month low of $11.78 and a 12 month high of $41.05. The stock has a 50-day simple moving average of $15.17 and a 200 day simple moving average of $15.37. The company has a current ratio of 1.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $429.48 million, a PE ratio of -27.69 and a beta of 1.30.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Tuesday, February 8th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter. The company had revenue of $166.55 million during the quarter. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%. Research analysts forecast that Columbus McKinnon Corporation will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, November 7th will be issued a $0.07 dividend. The ex-dividend date is Friday, November 7th. This represents a $0.28 annualized dividend and a yield of 1.9%. Columbus McKinnon’s dividend payout ratio (DPR) is 200.00%.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.